News & Media
Entwistle & Cappucci LLP Receives Final Approval of Settlement of Claims Against Exactech, Inc.
May 20, 2022
On April 27, 2022, the Circuit Court of Florida, Eleventh Judicial Circuit, Miami-Dade County entered an Order and Final Judgment approving the $5.6 million cash settlement of the action, captioned The Arbitrage Fund v. William Petty, et al., No. 2018-004061, filed by Entwistle & Cappucci LLP against members of the founding family and board of directors of Exactech, Inc. (“Exactech”) and related defendants. The settlement was achieved after nearly a year of negotiations, including a full-day virtual mediation session before an experienced mediator.
The Settlement Class consists of “All Unaffiliated Shareholders who held Exactech common stock shares as of January 12, 2018 and were entitled to vote those shares in favor of or against the Merger Agreement with TPG [Capital, L.P.] on February 13, 2018, excluding Defendants and all members of their immediate families and excluding Rollover Investors [defined and individually listed below] and all members of their immediate families.”
The “Rollover Investors” are: William Petty; David Petty; Betty Petty; Prima Investments, L.P;
Miller Holdings, LLC, a Florida limited liability company 100% owned by Gary Miller (Exactech’s co-founder and Exactech’s EVP of Research and Development) with his wife and children; Bruce Thompson (Exactech’s SVP of Strategic Initiatives); Joel C. Phillips (Exactech’s CFO); Donna Edwards (Exactech’s VP of Legal); Chris Roche (Exactech’s Director of Engineering); and Steve Szabo (Exactech’s VP of Marketing).
Entwistle & Cappucci LLP filed its motion for final approval of the settlement on March 21, 2022. Thereafter, on April 25, 2022, the Court held a final approval hearing, and subsequently issued orders approving the settlement, plan of allocation and attorney’s fees and expenses, among other relief. No objections to the settlement were reported as of the final approval hearing.
Proof of claim forms may be submitted electronically or mailed to the settlement administrator, A.B. Data Ltd., at the following address no later than July 5, 2022:
Exactech Shareholder Litigation
c/o A.B. Data, Ltd.
P.O. Box 173056
Milwaukee, WI 53217
Copies of the proof of claim form and other documents related to the settlement can be found on the settlement website maintained by claims administrator: http://www.exactechshareholdersettlement.com/.